Tencent Ready to Make Case It Can Ride Out China Storm
- China steps up oversight of Big Tech, fueling selloff
- Tencent’s gaming business may be less susceptible: analysts
Photographer: Ivan Abreu/Bloomberg
This article is for subscribers only.
Tencent Holdings Ltd. joined Alibaba Group Holding Ltd. and much of China’s internet sector in a $290 billion selloff after Beijing signaled its strongest intentions yet to rein in Big Tech. Yet the social media and gaming giant is in some ways better shielded than its peers from any potential crackdown.
Executives unfurling earnings Thursday will seek to reinforce perceptions Tencent isn’t in the same boat as fintech giant Ant Group Co., the Alibaba affiliate forced to call off what would’ve been the world’s largest initial public offering after Beijing tightened its control of online lending. Citigroup and JPMorgan were among brokerages that recommended investors buy Tencent during the sell-off.